Closing Costs for Home Real Estate Transactions
Every home sale involves costs. Sellers and buyers customarily split these closing costs, as specified in the real estate sales contract.
As indicated below, many of the buyer's closing costs cover the costs of originating the mortgage loan. Since Sky Apply Mortgage, Inc is highly experienced with mortgages and closings, we are closing cost experts.
Loan Estimates (LEs)
Buyers get a "Loan Estimate" of closing costs around the time the loan application is submitted to the lender. This closing cost estimate is based on our past experience. Please note that while our LEs are very precise, we can't always predict your closing costs to the penny. We explain Loan Estimates with buyers every day, so we'd be glad to answer the you have about closing costs.
Below is a fairly general list of closing costs. We will provide you with a specific list of your closing costs when we provide your Loan Estimate.
Standard Closing Costs
Loan-Related Costs
- Points — These are costs you pay up-front to lower your interest rate (optional)
- Appraisal Costs
- Pulling Your Credit Report
- Up-front Interest Payment
- Escrow Fees
- Taxes
- Loan Origination Fee
Property Taxes
- Transfer Taxes and Recording Fees
- Insurance
Homeowners Insurance
- Flood / Earthquake Insurance if applicable
- Private Mortgage Insurance (PMI)
- Title Insurance
Sky Apply Mortgage, Inc can answer questions about these closing costs. Give us a call at 8132007931.